Gold maintained the position above $1,900

Gold prices pushed lower below $2,000 and tested the $1,900 support level. The precious metal reached as low as $1,862.59 before turned higher. At the end of the previous week, gold closed at $1,943.66. This week, the precious metal might continue moving higher and retest the $2,000.

Traders who have long positions could continue to hold positions for now. On the other hand, a close below $1,900 might suggest further bearish correction toward $1,780 – $1,800.

Today critical levels to watch:

Support: $1,900, $1,800

Resistance: $1,950, $2,000, $2,050

Silver closed above $25.00 – $26.00

Silver managed to close above $25.00 – $26.00 area at the end of the previous week. There is a chance for the price to continue moving higher again to resume its bullish trend. However, if the bear could push the price lower below the previous week low then traders will prepare for a further bearish correction toward $21.35.

Today Critical levels to watch:

Support: $26.00, $25.00, $21.35

Resistance: $30.00

Crude oil moving sideways

No higher high printed yet on crude oil daily chart. The price mostly sideways last week and might continue moving sideways this week. Traders will wait for more bullish confirmation while holding long positions. As long as the price stay above $38.50, it is better to avoid short positions.

Today critical level to watch:

Support: $40.00, $38.50

Resistance: $49.00, $50.00